Sanford C. Bernstein Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

Lowe’s Companies (NYSE:LOW) had its price objective hoisted by Sanford C. Bernstein from $301.00 to $304.00 in a report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the home improvement retailer’s stock.

Several other analysts also recently weighed in on LOW. JPMorgan Chase & Co. cut their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Barclays upped their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Piper Sandler boosted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their price objective on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Mizuho boosted their target price on Lowe’s Companies from $282.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Price Performance

NYSE:LOW opened at $262.39 on Thursday. The firm has a market capitalization of $148.16 billion, a P/E ratio of 21.88, a PEG ratio of 2.25 and a beta of 1.09. Lowe’s Companies has a one year low of $209.55 and a one year high of $287.01. The company’s 50-day simple moving average is $270.69 and its 200 day simple moving average is $249.46.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the sale, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Institutional Trading of Lowe’s Companies

Several institutional investors have recently made changes to their positions in LOW. Pure Financial Advisors LLC boosted its holdings in shares of Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after purchasing an additional 45 shares during the last quarter. Blue Trust Inc. grew its holdings in Lowe’s Companies by 13.8% during the 2nd quarter. Blue Trust Inc. now owns 8,548 shares of the home improvement retailer’s stock valued at $1,884,000 after buying an additional 1,039 shares in the last quarter. Gradient Investments LLC grew its holdings in Lowe’s Companies by 13.1% during the 2nd quarter. Gradient Investments LLC now owns 85,363 shares of the home improvement retailer’s stock valued at $18,819,000 after buying an additional 9,920 shares in the last quarter. Everpar Advisors LLC increased its stake in Lowe’s Companies by 1.8% in the 2nd quarter. Everpar Advisors LLC now owns 4,480 shares of the home improvement retailer’s stock worth $988,000 after acquiring an additional 80 shares during the last quarter. Finally, 1858 Wealth Management LLC raised its stake in Lowe’s Companies by 9.4% during the second quarter. 1858 Wealth Management LLC now owns 1,163 shares of the home improvement retailer’s stock valued at $256,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.